After a gap of almost three months, a mill scale export vessel has been reported at Indian port.
According to customs data maintained with SteelMint, vessel named ‘Grand Royal’ is expected to reach Vizag port on 16 Mar’18. The vessel will load 38,000 MT mill scale for export.
As per trade sources report to SteelMint, the vessel belongs to KK Enterprises and the material will be exported to Phillipines.
Market participants mentioned that overseas buyers have turned cautious in booking mill scale vessels and are giving keen importance to quality issues. Sources also mentioned that there are hardly any mill scale export movements been made to China.
On 15 Nov’17, China officially notified World Trade Organization (WTO) of its intent to adopt a number of environmental protection control standards for imported solid wastes as raw materials. The applicable thresholds communicated at 0.5% for ferrous scrap imports to China and 1% for non-ferrous scrap.
Indian mill scale exports in FY18 – According to customs data maintained with SteelMint, India exported 168,500 MT mill scale from India during Apr’17-Feb’18. KK Resources has by far remained the largest mill scale exporter at 65,500 MT. In FY17, India exported 383,130 MT mill scale.
Domestic mill scale prices – Reference Indian mill scale prices are assessed at INR 2,700/MT (FoR Kandla) and INR 2,600/MT (ex-Raipur).
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